Appearing for CFA & FRM together?
What is FRM??
- Financial Risk Management Exam is conducted by the Global Association of Risk Professional (GARP).
- The exam is conducted in 2 levels.
- The exam is conducted in May and Nov every year.
- Both the Level can be given together in a single attempt.
- Further, you need 2 years of experience to get certified plus a bachelor’s degree.
What is CFA?
- A Chartered Financial Analyst (CFA®) is a globally recognized certification provided by CFA Institute.
- The exam is conducted in 3 levels.
- First level exams are conducted Four times -(February, May, August, and November) and the Second and Third levels are conducted annually (June).
- If you are able to clear the exam in the first attempt than ideally, you should be able to clear the exam in around 2.5 to 3 years.
- Further, you need 4 years of experience to get certified plus a bachelor’s degree.
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Should you appear for both Exams together?
- Giving CFA and FRM Level 1 together makes sense as the portion for both exams is 40% same
- Focus first on getting the common part sure from the preparation perspective and then move towards the uncommon part.
Common Part includes:
- Bond Valuation
- Basics of Futures and Options
- Future and Option Valuation
- Portfolio Management
- Equity Market Basics
- Probability
- Basic Statistics
- Hypothesis Testing
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Preparation Strategy:
You can appear for both the exam in many ways, highlighting two most popular strategies below.
Strategy 1:
- Appear for CFA Level 1 in Feb
- Appear for FRM level 1 in May
- Appear for FRM level 2 in Nov
- Appear for CFA level 2 in June
- Appear for CFA level 3 in June
Strategy 2:
- Appear for CFA Level 1 in Aug
- Appear for FRM level 1 in Nov
- Appear for CFA level 2 in June
- Appear for FRM level 2 in Nov
- Appear for CFA level 3 in June
Related Post:
CFA or FRM which Course is better?
Related Quora Answer:
Is it advisable to appear for CFA and FRM Level 1 simultaneously?
